Brooklyn Investment Group Makes New $214,000 Investment in FirstEnergy Corp. (NYSE:FE)

Brooklyn Investment Group bought a new stake in FirstEnergy Corp. (NYSE:FE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,822 shares of the utilities provider’s stock, valued at approximately $214,000.

Other institutional investors have also recently made changes to their positions in the company. Livelsberger Financial Advisory bought a new stake in shares of FirstEnergy during the 3rd quarter worth approximately $26,000. ST Germain D J Co. Inc. increased its stake in FirstEnergy by 1,138.9% in the second quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 615 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in shares of FirstEnergy during the second quarter worth $32,000. Sachetta LLC boosted its stake in shares of FirstEnergy by 36.0% during the second quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 246 shares during the period. Finally, UMB Bank n.a. boosted its stake in shares of FirstEnergy by 48.4% during the third quarter. UMB Bank n.a. now owns 997 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 325 shares during the period. Institutional investors own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Bank of America raised their price target on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a research note on Thursday, August 29th. Wells Fargo & Company lifted their price target on shares of FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Barclays increased their price objective on FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Seaport Res Ptn lowered FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, Argus raised FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $45.91.

FirstEnergy Stock Up 0.5 %

NYSE:FE opened at $42.28 on Wednesday. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The stock has a market capitalization of $24.37 billion, a P/E ratio of 27.28, a P/E/G ratio of 2.27 and a beta of 0.51. The company’s 50-day simple moving average is $42.80 and its 200-day simple moving average is $41.48. FirstEnergy Corp. has a fifty-two week low of $35.41 and a fifty-two week high of $44.97.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.05). The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. FirstEnergy’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. On average, equities analysts anticipate that FirstEnergy Corp. will post 2.68 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.02%. FirstEnergy’s payout ratio is 109.68%.

FirstEnergy Company Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.